Maersk will not expand in the downturn

Shenzhen: Maersk Line will not expand any more in the downturn, its chief commercial officer Lucas Vos told delegates attending the TPM Asia conference in Shenzhen. Vos said that Maersk, the world’s largest containerline, would grow with the market.

“We have taken our foot off the pedal,” he said, adding: “We have no ambition to grow more.”

Maersk would eschew dropping rates in favour of chopping ships and routes.

“Our first response to declining volumes is capacity reduction,” Vos maintained.  [18/10/12]

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